Marco Polo Marine's Business Outlook Seems Buoyant -- Market Talk

Dow Jones2023-12-06

0548 GMT - Marco Polo Marine's business outlook appears buoyant, RHB Research analyst Alfie Yeo says in a report as he raises the stock's target price to S$0.07 from S$0.06 with an unchanged buy rating. The Singapore-listed marine logistics group's ship-chartering business continues to support offshore wind farms in Taiwan, while its offshore-support-vessel charter rates are likely to stay robust, the analyst says. Also, the company seeks to increase ship repair and maintenance orders for the shipyard division via new customers, the analyst adds. RHB lifts its FY 2024-FY 2025 earnings forecasts for the company by 14%-17% on a higher FY 2023 earnings base. Shares are unchanged at S$0.05. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 06, 2023 00:48 ET (05:48 GMT)

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